Pre-seed funding for bitcoin-native startups surged by 50% in 2024, despite a broader slowdown in tech venture capital, with early-stage bitcoin ventures attracting nearly US$1.2 billion over four years. This growth coincided with a doubling of bitcoin's value and a 40% rise in ethereum, fueled by the SEC's approval of bitcoin and ethereum ETFs and Donald Trump's election win. However, total capital raised by bitcoin startups across all funding rounds fell by 22% in 2024, even as crypto VC funding showed signs of recovery, with deals exceeding US$1.1 billion in February 2025.